First published in 1990, The Economics of Salmon Aquaculture was the first book to systematically analyse the salmon aquaculture industry, from both a market and production perspective. Since publication of the first edition of this book, the salmon aquaculture industry has grown at a phenomenal rate, with salmon now being consumed in more than 100 countries worldwide. This second edition of a very popular and successful book brings the reader right up to date with all the major current issues pertaining to salmon aquaculture.

Preface. 1 Introduction. 2 The Production Process in Aquaculture. 2.1 Salmon production. Bibliography. 3 The Supply of Salmon. 3.1 Farmed salmon production. 3.2 Wild salmon production. 3.3 Regulation of salmon aquaculture. 3.4 The growth of large multinational companies. Bibliography. 4 Productivity Growth and Technological Change. 4.1 Declining costs. 4.2 Scale. 4.3 Structure of production costs. 4.4 Smolt production. 4.5 Improved feed quality. 4.6 Diseases and increased survival rates. 4.7 Breeding. 4.8 Cycles in profitability. 4.9 Catching up: regional differences. 4.10 Productivity development in Norway relative to other producers. 4.11 Cost reductions in the supply chain. Bibliography. 5 Environmental Issues. 5.1 The fi sh meal trap. 5.2 Local issues. Bibliography. 6 Markets for Salmon. 6.1 The European Union markets. 6.2 The Japanese salmon market. 6.3 The United States salmon market. 6.4 The Russian market. 6.5 Price development. Bibliography. 7 Competitiveness and Market Structure. 7.1 What is a market? 7.2 The salmon market. 7.3 The size of the market. 7.4 Salmon marketing. 7.5 Trade restrictions. Appendix: a market model. Testing for market interactions. Bibliography. 8 Lessons for Other Farmed Species. 8.1 Other farmed species. 8.2 Lessons from other farmed species. Bibliography. 9 Optimal Harvesting of Farmed Fish. 9.1 A biological model. 9.2 Bioeconomic analysis. 9.3 The rotation problem. Appendix: optimal harvesting of farmed fish. A biological model. Bioeconomic analysis. Harvesting costs. Feed costs. Feed and harvesting costs. The rotation problem. Optimal harvesting: examples. Bibliography. 10 Production Planning in a Salmon Farm. 10.1 Cash fl ow analysis. 10.2 Smolt release and biomass growth. 10.3 Sales revenue. 10.4 Feeding costs. 10.5 Net present value. 10.6 Selective harvesting. 11 Investment in a Salmon Farm. 11.1 A production plan. 11.2 A liquidity budget. 11.3 Cost of production. 11.4 Investing in a new aquaculture company. 11.5 Licence value. 11.6 Buying a fish farming company. References. Index.